B. Riley Upgrades ZAGG Inc (ZAGG) to Buy
ZAGG Inc (NASDAQ:ZAGG) was upgraded by equities researchers at B. Riley from a “neutral” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $20.00 target price on the specialty retailer’s stock, up from their prior target price of $17.00. B. Riley’s target price indicates a potential upside of 8.70% from the stock’s previous close.
A number of other analysts also recently commented on ZAGG. Zacks Investment Research upgraded ZAGG from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research note on Wednesday, July 19th. Northland Securities set a $10.00 price target on ZAGG and gave the stock a “buy” rating in a research report on Tuesday, July 25th. Roth Capital set a $9.00 price target on ZAGG and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub upgraded ZAGG from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 5th. Finally, Craig Hallum reiterated a “buy” rating and set a $23.00 price target (up previously from $16.00) on shares of ZAGG in a research report on Thursday, October 19th. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $17.67.
ZAGG (NASDAQ ZAGG) traded down $0.45 during trading on Thursday, reaching $18.40. The company’s stock had a trading volume of 1,541,090 shares, compared to its average volume of 988,895. The company has a current ratio of 1.01, a quick ratio of 0.59 and a debt-to-equity ratio of 0.09. The stock has a market cap of $514.74, a P/E ratio of 70.77, a PEG ratio of 4.16 and a beta of 0.82. ZAGG has a twelve month low of $5.65 and a twelve month high of $19.38.
ZAGG (NASDAQ:ZAGG) last issued its earnings results on Wednesday, November 1st. The specialty retailer reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. ZAGG had a return on equity of 6.76% and a net margin of 0.63%. The firm had revenue of $134.40 million for the quarter, compared to the consensus estimate of $128.23 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. analysts expect that ZAGG will post 0.96 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of ZAGG by 6.4% in the first quarter. Vanguard Group Inc. now owns 1,106,248 shares of the specialty retailer’s stock valued at $7,964,000 after purchasing an additional 66,284 shares during the last quarter. Wasatch Advisors Inc. increased its holdings in shares of ZAGG by 7.3% in the second quarter. Wasatch Advisors Inc. now owns 1,370,557 shares of the specialty retailer’s stock valued at $11,855,000 after purchasing an additional 93,551 shares during the last quarter. Moors & Cabot Inc. grew its position in ZAGG by 49.8% in the second quarter. Moors & Cabot Inc. now owns 119,900 shares of the specialty retailer’s stock worth $1,040,000 after acquiring an additional 39,850 shares during the period. Perkins Capital Management Inc. purchased a new position in ZAGG in the second quarter worth approximately $602,000. Finally, Numeric Investors LLC purchased a new position in ZAGG in the second quarter worth approximately $707,000. 81.86% of the stock is owned by hedge funds and other institutional investors.
ZAGG Company Profile
ZAGG Inc (ZAGG) designs, produces and distributes professional product solutions for mobile devices, including screen protection (glass and film), keyboards for tablet computers and mobile devices, keyboard cases, earbuds, mobile power solutions, cables, and cases under the ZAGG and InvisibleShield brands.
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